Steve is the sole proprietor/owner of a company called Steve's Car Repair.

Steve's company is a service business, the main work is maintenance and car repair.

He orders his car parts and supplies to perform the maintenance and repair services.

Currently, the shop does not have any employees, Steve performs all of the services.

Using the information above explain what Revenue Cycle and Expenditure Cycle accounting procedures Steve should incorporate into his business.

1. Revenue Cycle including the revenue system needed (sales/accounts receivable/cash receipts).
2. Expenditure Cycle including the expenditure system needed (purchasing/accounts payable/cash disbursements)